Better off renting - scientific evidence

OptionARMAGEDDON

MrRee wrote: »

I was born 60 years earlier!

And the truth holds today, as it did then .... buying is, by far, the best option.

Take any 10 year spread from 1960 onwards.

I have a funny feeling this decade is going to be the exception to that rule.

reweird

Carl31 wrote: »

thats fine, but you havent factored in additional costs that house ownership brings, white goods over 10 years, buildings insurance, building maintenance costs etc

All things renters dont pay

if you want to compare the 2 types of living arrangement, and the true cost of house ownership, you cant just compare the rent costs per annum against mortgage cost

These costs are factored into the rent by the landlord.

HappyMJ

LOL...scientific evidence. Only if someone bought in 2008 would they be worse off. Virtually every other year buyers would be better off.

Carl31

reweird wrote: »

These costs are factored into the rent by the landlord.

well yes, but i was just pointing out the flaw in the OPs comparison, its not like for like

Pimperne1

Here's another Einstein whose mum has been telling him to buy for the past 10 years and now he claims she is asking him for financial advice (a bit like asking a erohw how to preserve your virginity):

http://www.housepricecrash.co.uk/forum/index.php?showtopic=172294

reweird

Pimperne1 wrote: »

Here's another Einstein whose mum has been telling him to buy for the past 10 years and now he claims she is asking him for financial advice (a bit like asking a erohw how to preserve your virginity):

http://www.housepricecrash.co.uk/forum/index.php?showtopic=172294

Priceless. They really are a bunch of indoctrinated retards.

And that's being kind.

suki1001

MrRee wrote: »

I was born 60 years earlier!

And the truth holds today, as it did then .... buying is, by far, the best option.

Take any 10 year spread from 1960 onwards.

But you're stuck for a long time if you do it wrong.

HAMISH_MCTAVISH

suki1001 wrote: »

But you're stuck for a long time if you do it wrong.

And you waste a whole lot of money if you wait around for "the right time".

As always, the best way to minimise lifetime housing costs is to buy as early in life as possible, and spend as little time as possible enriching your landlord.

HAMISH_MCTAVISH

reweird wrote: »

Priceless. They really are a bunch of indoctrinated retards.

And that's being kind.

That's about right.

It's seriously amusing that the only way they can now come up with a "win" for renting versus buying is to create a scenario where prices fall 20% from here, mortgage interest is 6%, and everyone gets to live on their mums couch in the meantime, or some such nonsense.

That or the increasingly desperate whimpering about "real terms" falls.:rotfl:

reweird

Pathetic does not describe thi one... http://www.housepricecrash.co.uk/forum/index.php?showtopic=172298

Read it here...

I was going to add to the !!!!less finally having it dawning on them re. house prices. An old school friend(ish) who added me and posted something that touched a nerve with me today, I couldn't resist

OP (female) : been viewing houses today, to buy or not to buy so exciting :-)

EH (female) : where are you looking to buy?

OP : Telford but only certain areas

EH : we have a house in st. George's that we are thinking of selling if your interested

OP : I don't want to live in st. George's hun there isn't anything wrong with it [lie] but I'm thinking of catchment areas for schools for my little girl

TP (this is me if you can't guess from the tone) : You'd be foolish to buy a house at the moment. All the house price indices (real/actual) are pointing downwards. Right move showing -3.1% last month alone

SH (female) : good luck we are looking for a BTL at the mo. x

OP : I've seen a few I like I'm not selling so it's a buyers market but do you think they will fall some more then Tom?x

TP : yes I do OP they have a long way to fall IMO the government are trying to keep prices artificially high with ZIRP and stupid FTB schemes to sucker the younger generations into taking on massive amounts of unaffordable debts (a mortgage is leveraged debt), the banks are being soft on arrears as a flood of repossessions would mean more downward pressure and a huge write down on book values that could send banks to the wall and lastly, the people pulling the strings... those lucky enough to be born before 1975 and sitting on hundreds of thousands in 'housing' equity not forgetting Richard Desmond owner of Daily Express where every third headline is house prices to soar 15% who incidentally is another VI with a hundred/s million £s property portfolio

OP : Thanks Tom I will probably hang on and wait then that seems like very sensible advice :-)

OP is a single mum working trolley dolly!

Thank you thank you taking a bow as I can hear a raptuous applause from fellow HPCers.

It's win win for me as i'm on the fabled property ladder, if prices do go up 15% I'll just MEW and flash wads of cash (this is where I realise I'm not making the right noises - damn, what should I have said BUY house prices only ever go up, there's a shortage init).